Day: June 21, 2019

Bitcoin Boosts Crypto Market Cap to Shatter 12-Month High $300 Billion

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By CCN Markets: The net valuation of the cryptocurrency market on Friday flew above $300 billion for the first time in the last 372 days. Data assembled by CoinMarketCap.com shows that the cryptocurrency market capitalization touched approx $303.42 billion as of 1137 UTC today, its highest since June 13, 2018. That brought the market’s net bottom-rebound to as much as 196 percent, including a 143 percent gain on a year-to-date basis. Cryptocurrency Market Value Goes above $300 Billion after Over a Year | Source: CoinMarketCap.com A massive chunk of the cryptocurrency…

19% of World Population Bought Crypto Before 2019: Kaspersky Report

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A new survey by Moscow-based cybersecurity firm Kaspersky Lab introduced on June 17th revealed that 19% of people globally have purchased cryptocurrency. The survey, titled “The Kaspersky Cryptocurrency Report 2019,” was carried out in October and November 2018, with a total of 13,434 respondents in 22 countries. According to the report, 81% of global population have never purchased cryptocurrencies, while only 10% of respondents said they “fully understand how cryptocurrencies work.” Meanwhile, just 14% of those who haven’t ever used cryptocurrencies would like to do so in the future, the…

As Brazil’s Economy Risks Recession, Regulators and Banks Implement Blockchain

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Brazil’s weak economic growth and inflationary pressure have led to more than 13 million Brazilians currently out of work. The unemployment rate currently stands at 12.5%. While the country runs the risk of recession, cryptocurrency’s low barrier for entry and promise of large returns appeal to Brazilians. Bruno Peroni, chief sales officer at Atlas Quantum, told Cointelegraph: “We have a higher number of people investing in crypto than on the local stocks markets. The most recent estimates show that there are 1.5 million Brazilians investing in crypto, whereas the local…

Major Korean Crypto Exchange Bithumb Prosecuted for Failure to Protect User Data

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South Korean crypto exchange Bithumb has been prosecuted for its alleged failure to take adequate measures to protect personal information, which was later presumably exploited by hackers to steal funds from the platform. The news was reported by Cointelegraph Japan on June 19. Prosecutors allege the data breach led directly to the second hack affecting the platform, in which almost $7 million in user funds was stolen. As Cointelegraph has previously reported, Bithumb first notified authorities of a major data breach in late June 2017, thought to have affected around…

Japan’s Financial Watchdog Orders Hacked Exchange Zaif to Improve Business

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Japan’s financial regulator, the Financial Service Agency (FSA), has issued a business improvement order to Japanese investment firm and Zaif crypto exchange operator Fisco. According to Cointelegraph Japan, the FSA has identified shortcomings in Fisco’s internal control systems — such as anti-money laundering measures — and found it to be insufficiently compliant with local laws and regulations. As previously reported, Fisco assumed ownership of Japanese exchange Zaif in fall 2018, shortly after the platform was hacked to the tune of ~$59.7 million. The FSA’s action has reportedly been taken under…

Bitcoin Price Targets $10,000 and Beyond, Thanks to Weak Dollar Sentiment

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By CCN Markets: Price of Bitcoin established another year-to-date high on Friday, touching levels not seen in over a year. Earlier during the Asian session, the bitcoin-to-dollar exchange rate flew past the $9,800 level for the first time since May 6, 2018. As of 0200 UTC, the pair settled a fresh yearly high towards $9,812 on Coinbase exchange, up 5.92 percent on a 24-hour adjusted timeframe. Bitcoin futures on CME also surged to establish its 2019 peak of $9,840. Bitcoin Price Soars Past $6,700 in Latest Upside Action | Source: TradingView.com,…

Bitmain Shifting IPO Plans to the US on Growing Bitcoin Optimism

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Chinese cryptocurrency mining giant Bitmain is revisiting plans for an initial public offering (IPO,) Bloomberg reported on June 21. The company had filed to list an IPO on the Hong Kong Stock Exchange, but the application expired on March 26. Now, Bitmain is reportedly planning to file listing documents with the United States Security and Exchange Commission, potentially paving the way for a share sale to take place later this year. While the company was hoping to raise $3 billion from its planned Hong Kong IPO, the Bloomberg report suggested that this fundraising target will…

These Indicators Suggest Crypto May Surge Even Faster

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Just weeks ago, certain analysts were calling that Bitcoin (BTC) was topping. These crypto investors used terms like “strong correction” and “bearish retracement” to describe Awhat they expected to come to fruition. While they were partially right, in that BTC fell to $7,450 from $9,100 in a week’s time, what followed was shocking, catching traders with their pants down. Since hitting $7,450 just a week or two back, Bitcoin has exploded higher, with bulls clearly showing they are in control. In fact, as of the time of writing this, the…

Bitcoin Price Eyes $10K After Erasing 40% of Bear Market Drop

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View Bitcoin’s price has recovered 40 percent of the bear market drop. The breakout has bolstered the bullish setup on the weekly chart, which is currently reporting the strongest buying pressure in six months. As a result, BTC looks set to break above the psychological resistance of $10,000. The price has already rallied nearly 130 percent so far this quarter. Hence, a temporary correction due to bull exhaustion cannot be ruled out. The outlook, however, will remain bullish as long the price is held above recent lows near $7,500. Bitcoin’s (BTC)…

Bitcoin and XRP Aren’t Competitors — I’m Long BTC

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Bitcoin (BTC), and XRP, the third biggest coin by market cap, are not competitors, Ripple CEO Brad Garlinghouse claimed in a Fortune interview on June 20. In the interview, Garlinghouse outlined the key difference of two major cryptocurrencies, arguing that bitcoin is a store of value or “digital gold,” while XRP is a “bridge currency” that enables an efficient solution for fiat-to-fiat transfers. As such, Garlinghouse cited the difference between bitcoin and XRP in terms of transactions costs, claiming that Ripple can do a transaction for a tiny fraction of…